EUR/USD 1.08825
0.276%
Gold 2983.95
-0.164%
Oil 66.886
0.568%
USD/JPY 148.644
0.562%
GBP/USD 1.29350
-0.106%
GBP/JPY 192.274
0.500%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
German Research Center for Geosciences: A 5.6-magnitude earthquake occurred in Oaxaca, Mexico.On March 15, Goertek launched the DPS-F and Dayin-F speakers to meet the needs of foldable screen phones for ultra-thinness, high loudness and low distortion, and privacy calls. Goertek launched the DPS2.0 and Dayin Ultra speakers to meet the needs of high-end straight-screen phones for more balanced stereo and subwoofer-like sound effects. Goertek launched the Rhythm-Z2.0 to meet the needs of ultra-thin/foldable tablets for thinner speakers and improved full-frequency sound effects. Goertek also launched the Sandwich2.0 speaker technology for high-end smart watches.March 15th, the British Prime Ministers Office issued a statement on the British government website on Friday stating that British Prime Minister Keir Starmer said that if Russia "returns to the negotiating table", he hopes that Britain will monitor the ceasefire system in Ukraine together with other members of the so-called "coalition of the willing".March 15th news, recently, the computing power service market has continued to heat up. Since March, many listed companies have successively disclosed the signing of large-scale computing power service contracts worth hundreds of millions of yuan, which has attracted market attention. "Recently, the explosive development of AI technology, chip shortages and the expected increase in computing power rental prices, coupled with the promotion of favorable policies such as the East Data West Computing project, have led to a substantial increase in the demand for computing power orders." Wu Wanying, a senior researcher at Tianyi Digital Economy Think Tank, told reporters that with the continuous expansion of the scale of intelligent computing power, the further deepening of policy support and the penetration of AI technology into more industries, the demand for pre-computing power orders will continue to emerge, bringing new development opportunities to related fields.On March 15, Jack Meaning, chief UK economist at Barclays, said in a report that in the upcoming interest rate decision on March 20, the Bank of England is likely to keep the interest rate unchanged at 4.50% and reiterate that future interest rate cuts will be gradual. He said: "There has been nothing in the data since February that will materially change the views of the (Bank of England) Monetary Policy Committee." He said that the Bank of England may maintain its policy guidance unchanged at the March meeting and may cut interest rates by 25 basis points in May.

After Avalanche’s 20% Weekly Spike, Can AVAX Reclaim the $35 Level?

Skylar Shaw

Aug 11, 2022 12:00

微信截图_20220811115225.png


After the altcoin's recent 30% price increase from the $22 level, Avalanche (AVAX) has been on the watchlists of the majority of cryptocurrency traders. AVAX was trading at $29.06 at the time of writing and has recaptured position 12 in the market capitalization ranking of cryptocurrencies, showing a 5% increase on the daily chart.


Many in the market anticipate another wave of price growth for AVAX toward the $35 level with higher market gains. What lies ahead for Avalanche now that its basics seem to be solid?

New Avalanche Achievements

The Avalanche network achieved a new milestone on August 9 during the last trading hours of the Asian session, when the currency had its greatest daily transaction volume ever. As the indicator crossed the 1.51 million transaction threshold, the daily transaction count for AVAX achieved an all-time high.


It wasn't the most remarkable item, but the huge transaction volume suggested more enthusiasm or hope in the market for the ecosystem. The fact that AVAX had more transactions on August 9 than Ethereum, Arbitrum, and Optimism all together was one of the funniest aspects about the coin's high transaction volume.


The price increase for AVAX began to gain steam around August 6 with a 9% increase. Many cryptocurrency observers believed that the development of Avalanche-based NFTs was the primary cause of the coin's upward momentum.


The trading volumes of NFTs based on Avalanche increased 30% on August 9. Additionally, NFT sales showed a nearly 10% increase within the same period.


Robinhood also declared support for Avalanche and Stellar (XLM), which contributed to the positive momentum's expansion.


AVAX Bulls Eye the $35 Level AVAX's price recently reached a low of $13.75; nevertheless, the coin's rapid rebound has given investors in tokens cause for confidence.


Notably, AVAX shown remarkable signals of recovery from the longer-term decline the cryptocurrency has seen for more than four months. The bullish reversal has increased the altcoin's price by almost 110% from June 2022, when it was at a lower price point.


AVAX's price rising over the crucial $30 threshold may help bulls' market momentum in the near future.


The $36 and $51 levels would be the next resistances in the near future for AVAX that bears might hold.


However, daily trading volume increased by 22% during the previous 24 hours from press time, indicating a revival of retail momentum for AVAX. Since AVAX's price surged over the crucial $28 barrier, there is a good probability that the coin will reach the $35 level unless bears seize the initiative.

Suggestion